City of London

In General:
The London boroughs are administrative centres responsible for collecting local taxes (Council Tax and Business Rates) and then spending the funds received on local services. They are run by Borough Councils who are elected by borough residents on a four year cycle. The totals that they spend will depend on the rates of tax that they levy plus funds allocated from central government and other sources.

While many of the services (schools, roads, planning, rubbish collection and social services) are standard, levels of provision will vary according to the overall political will as expressed by the voters.

Your tax liability (as a resident) will be based on the council tax band of your home. These bands are set by Valuation Officers and there is scope for appeal. The rate bands are then used to determine the amounts of tax levied. So, while the bands will remain largely constant the levels of tax can go up and, in theory, down.

You may claim discounts or exemptions based on your circumstances. For example, as the only adult in a property you can get a 25% reduction on your bill. Other reductions are available for qualifying second adults and Council Tax Benefit claimants.

City of London Comments

The heart of the capital and one of the
biggest financial centres in the world, the City of London may
not spring to mind first when in search of a London home. The
city is still primarily commercial, stocked with tall glass
fronted buildings from every side and shops and bars that bustle
with the nine-to-five yet lie deserted at the weekend. In reality
the city has undergone a renaissance in its role as a residential
borough over the past decade. Office blocks and warehouses have
been converted into smart new apartments as developers respond
to government pressure to build on previously used inner city
sites. Popular with busy city workers eager to avoid the hassle
of a long commute, the city's role as a home seems assured for
the future.

Property News for Borough

If you're looking to put down roots in London, you could benefit from putting off on purchasing a property and rent a home instead. This is because house prices across the capital are set to fall throughout 2015, according to new information from the Centre for Economics and Business Research (CEBR).

House prices across the City of London have fallen by more than £30,000 over the last month, according to new figures. Research from Rightmove has found that the average asking price in London has dropped dramatically in the last few weeks, as sellers seem unsure as to whether they can achieve the high end prices they have been asking in recent months.

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